Patel Retail IPO Proceeds Utilization Report Filed

Patel Retail Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, prepared by ICRA Limited. The report confirms no material deviation in the utilization of IPO proceeds, aligning with the stated objects of the issue. The IPO, which opened on August 19, 2025, and closed on August 21, 2025, raised INR 242.6580 Crore. Net proceeds stood at INR 189.2101 Crore after accounting for higher-than-estimated issue-related expenses. The report is in line with SEBI regulations and will be disseminated on the company's website.